The property market is transitioning from an extraordinary growth curve to a more controlled growth. And whilst the property values are still increasing, they’re just not increasing on the same trajectory as they have been for the last 12 to 18 months.
This should make planning your next property decision a little easier to predict and little less stressful for some.
This softening in growth was influenced by less government stimulus.
Rising fixed-term mortgage rates more recently, a slight tightening in credit conditions and also a surge in new listings through the final quarter of last year did become a factor. However, the initial auction clearance rates have indicated that this market is
still very stable and the strength is underpinned by still very low interest rates and high numbers of preapprovals being issued throughout that lending sector, which naturally keeps the demand strong.
Cammeray Property Market
In 2021 there were a total of 74 houses and 170 units and townhouses sold. This is a strong increase on 2020 where 57 houses and 134 apartments and townhouses were sold.
The medium price of Cammeray has risen to just over $3.4 million for houses and $1.23 million for apartments.
We are currently preparing a number of houses, townhouses and apartments, which are all due to hit the market in the coming weeks.
So if you are looking to sell or buy in 2022 and would like a broader understanding of economic conditions, COVID restrictions and election timing, which may influence your decisions, then please give me a call to discuss AND if you’re interested in getting back into shape or progressing your current fitness and wellbeing goals, give Yvette a call at the Pilates Nest. You’ll be in good hands.
236 West Street, Crows Nest
Call Yvette – 0414 606 474
For advice on your property in this market, speak to Anthony and his team.